The Real Estate General Authority (REGA), as part of Saudi Arabia’s official delegation, concluded its participation in the World Urban Forum “WUF12”, held in the Egyptian capital from 4–8 November 2024. During the forum, REGA highlighted the Kingdom’s most significant real estate legislation, which serves as a key enabler in achieving urban development goals and building modern, sustainable cities and communities. These efforts contribute to improving quality of life, supporting economic activity, and enhancing the attractiveness of real estate investment in Saudi Arabia.
Throughout its participation in meetings and workshops held within the forum’s activities, REGA presented its leading experiences in real estate regulation, raising awareness among investors about the sector’s legislative landscape, and emphasizing the role of laws and regulations in sector development and in boosting reliability and investment appeal.
REGA’s Official Spokesperson and Director General of Strategic Communication, Mr. Taiseer bin Mohammed Al-Mufarrej, stated during a speech at the forum that the Saudi real estate sector is progressing confidently under a regulatory framework characterized by vitality and flexibility. He noted that the sector has undergone a qualitative leap driven by strategic directions that have transformed the landscape of the Saudi real estate market, launching it toward future horizons aligned with the requirements of urban development and the construction of sustainable future cities.
He further affirmed that investing in Saudi real estate is investing in the future, and that the path is open to investors from around the world—whether directly or through capital formation. Real estate legislation such as the Real Estate Contributions Law and the Off-Plan Real Estate Projects Sale and Lease Law act as investment enablers and provide flexible financing alternatives parallel to real estate investment funds. These frameworks enhance investor protection and create unique opportunities—particularly in infrastructure and real estate facilities—amid the Kingdom’s ongoing boom in developing stadiums, hotels, commercial centers, and entertainment venues, all of which are long-term assets, especially in light of the major projects the Kingdom is preparing to host.
During its participation in dialogue sessions and workshops at the forum, REGA showcased the digital and technological transformation of the real estate sector and its role in delivering high-quality, advanced services. REGA also highlighted its commitment to adopting real estate technologies and fostering an innovation-friendly environment through the Saudi PropTech Center, recently launched to support all those interested in real estate technology both within and outside the Kingdom. REGA also presented the significance of the Off-Plan Real Estate Projects Sale and Lease Law in boosting competitiveness in real estate development and encouraging investment to increase the supply of real estate units.
It is worth noting that the WUF12 is the United Nations’ premier conference and the largest global platform dedicated to addressing the challenges of sustainable urban development. REGA’s participation reflects its role in strengthening collaboration among real estate industry leaders, policymakers, and global experts, while highlighting the Kingdom’s pioneering efforts in advancing sustainable urban development and shaping the regional and international urban landscape.